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Climate changed

Billionaire Miami Beach Developer Dismisses Rising Sea Levels as ‘Paranoia’

  • Billionaire Peres is planning two condo projects by the ocean
  • Peres also runs Multiplan, a Brazilian shopping-center company
Miami Beach

Miami Beach

Photographer: Jeff Greenberg/Universal Images Group Editorial via Getty Images

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A South Florida developer is questioning the well-established facts of climate change, and is putting his money where his mouth is, investing millions to build residential projects in highly exposed Miami Beach.

Brazilian billionaire Jose Isaac Peres is hosting an inaugural party Thursday for the sales center of his planned 81-unit 57 Ocean, where the penthouse will cost $31 million. He’s also seeking permission to build another condo project, a four-story development on Ocean Drive.